Private Wealth Strategies L.L.C. Has $461,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Private Wealth Strategies L.L.C. raised its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 28.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,301 shares of the social networking company’s stock after acquiring an additional 292 shares during the period. Private Wealth Strategies L.L.C.’s holdings in Meta Platforms were worth $461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stone House Investment Management LLC increased its stake in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares during the period. Quest Partners LLC bought a new stake in Meta Platforms in the fourth quarter valued at approximately $32,000. Gilfoyle & Co LLC bought a new stake in Meta Platforms in the fourth quarter valued at approximately $39,000. Cranbrook Wealth Management LLC boosted its holdings in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its holdings in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META traded down $7.31 during trading hours on Thursday, hitting $467.05. The company had a trading volume of 10,723,881 shares, compared to its average volume of 17,262,195. Meta Platforms, Inc. has a 52 week low of $258.45 and a 52 week high of $531.49. The firm has a 50 day simple moving average of $481.93 and a 200 day simple moving average of $429.53. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The firm has a market capitalization of $1.18 trillion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.24 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Equities research analysts expect that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.43%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 77,412 shares of Meta Platforms stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $497.61, for a total value of $38,520,985.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 732,374 shares of company stock worth $363,875,308. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on META. Bank of America increased their price target on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. The Goldman Sachs Group cut their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Tigress Financial increased their price target on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a report on Friday, February 9th. Finally, Morgan Stanley increased their price target on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $509.80.

Get Our Latest Analysis on Meta Platforms

About Meta Platforms

(Free Report)

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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